KARACHI: The Federal Board of Revenue (FBR) finds 6,000 big retailers from whom it will collect Rs 2 billion under the head of general sales tax.
Sources told Customs Today that the FBR has told the World Bank that it has found some 6,000 retailers who can install electronic cash register and now they are paying Rs 600,000 electricity bill on monthly basis.
It is pertinent to mention here that receivable amount under the head of general sales tax is very low in Pakistan, so during the ongoing fiscal year of 2015-16 the government has decided to bring reforms in tax.
Government divides these retailers into steps, in first step big retailers chains, air-conditioned malls and departmental stores which pay monthly electricity bills amounting to Rs 600,000. In the second step, the FBR will target the retailers who are paying monthly electricity bill of Rs 240,000/-.
